direct tax (house property)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2010
Q1-what will be the treatment of the interest payable outside india and if tax is not deducted or paid ?
And if the tax paid wil it be allowed for deductin u/s 24(b) ?
Q2-If loan taken for the purpuse of repair or renovation after 1/4/99 what will be the deduction limit for interest on loan?
And if the tax paid wil it be allowed for deductin u/s 24(b) ?
Q2-If loan taken for the purpuse of repair or renovation after 1/4/99 what will be the deduction limit for interest on loan?
CMA Arif Farooqui
(Expert)
08 September 2010
1. if TDS is not deducted then intrest will not be allowed. if TDS is deducted then it is allowed u/s 24.
2. for self occupied, it is Maximum Rs 30000 and in any other case it is actual amount paid/payable.
2. for self occupied, it is Maximum Rs 30000 and in any other case it is actual amount paid/payable.
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